News
Economy Watch: Consumers, FDIC Doom
The U.S. Bureau of Economic Analysis said that personal income and outlays among Americans were both up in March compared with February. Personal income increased 0.5 percent, and disposable personal income–which is the fun kind of income–increased 0.6 percent, month-over-month. Hand-in-hand with that, personal consumption expenditures increased 0.6 percent. People having some fun with that disposable income, perhaps.
Federal, Kettler Buy Va. Multi-Family Portfolio
Purchased from Great Atlantic Management Co., the portfolio consists of 1,490 garden apartments in seven communities in Hampton, Newport News and Virginia Beach. The purchase price was $87.9 million.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending April 29 and what to watch out for in the coming week.
CoStar Amps Up Offerings with LoopNet Acquisition
The deal comes as no surprise to those who keep an eye on the ins and outs of the industry. B. Riley & Co. L.L.C. director of research Ian Corydon said, “It has made sense for a long, long time.”
Economy Watch: GDP Lackluster, McD’s Hiring
The broadest measurement of economic activity in the United States, real gross domestic product, increased at an annualized rate of 1.8 percent in the first quarter of 2011, according to the advance estimate released by the U.S. Bureau of Economic Analysis. That compares unfavorably to the fourth quarter of 2010, when real GDP increased 3.1 percent.
Broadway Partners to Recap 450 W. 33rd St.
The 1.6 million-square-foot Class A office building is located two blocks from New York’s Penn Station and includes tenants such as The Associated Press and New York Daily News.
Striking Deals, Breaking Ground in the Emerald City
By Alex Girda, Associate Editor
Seattle has been buzzing with activity in the past week, and it’s not just due to the coffee. Real estate deals have been closing and the city has adopted some new zoning requirements that could pave […]
Today’s the Day: CPE Achievement Award Submissions Due
Don’t be left out! Submissions for CPE’s Distinguished Achievement Awards must be postmarked by today! Make sure your 2010 commercial real estate deal, project or program gets consideration!
Economy Watch: Bernanke, Moody’s Talk
Federal Reserve Chairman Ben Bernanke took center stage, holding the first-ever press conference by a Fed chairman in the 98-year history of the central bank. That in itself is historic, but the content of what he said wasn’t much different than what he’s been saying all along.
Chic Manhattan Apartment Tower Trades for $122.5M
The Elektra, the luxury apartment building at 290 Third Ave. in Manhattan, has come under new ownership. Almost five years after having acquired the 166-unit residential tower for $92.5 million, JP Morgan Investment Management Inc. has sold the asset to Invesco Real Estate.